Posted Saturday, May 4, 2024 at 9:54pm

Japan’s Subaru cuts annual output target as chip shortage drags on

Japan’s Subaru Corp slashed its annual output target by nearly 10% on Wednesday amid ongoing fallout from a semiconductor shortage that continues to hamper automakers around the world.

The carmaker said the shortages were most acute among parts for immediate delivery in the spot market and it expected the lack of supply to last at most until around June before recovering.

Subaru said it now expects to produce 880,000 vehicles this fiscal year through March, down 9.3% from a previous forecast of 970,000 units.